In Kazakhstan, 5,000 POS terminals have started accepting crypto payments.

Binance Kazakhstan and Alatau City Bank have expanded their cryptocurrency payment acceptance project in Kazakhstan. The Binance Pay service is now available on 5,000 POS terminals of the bank across the country.

The new integration allows customers to pay for goods and services with cryptocurrency using the familiar banking infrastructure. To make a payment, the buyer simply needs to scan the QR code on the Alatau City Bank POS terminal or in the Tole app via the Binance Kazakhstan app and confirm the transaction. After that, digital assets are automatically converted, and the seller receives payment in tenge.

For businesses, the service does not require holding cryptocurrency or using a separate crypto wallet. Funds are deposited into the bank account in the national currency, and payments are accepted through existing POS terminals without the need to install additional equipment.

The project is being implemented within the regulatory "sandbox" of the National Bank of Kazakhstan. The company notes that operations are conducted in compliance with current requirements, and all transactions are traceable.

The expansion of the project has become one of the largest examples of integrating cryptocurrency payments into the banking infrastructure of Kazakhstan. According to market participants, this could accelerate the use of digital assets for everyday purchases while maintaining the familiar business model of settlements in tenge.

Source: CZ BNB